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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Daily analysis of Gold for April 12, 2017

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Overview

Gold price managed to settle with a daily close above $1,263.17 that will confirm breaching this level and the continuation of the bullish bias. Traders are waiting for more of gains in the short term. Therefore, the bullish trend will remain preferred in the upcoming period, supported by the EMA50. It keeps carrying the price from below. Be aware that breaking $1,263.17 and later $1,256.50 might push the price to visit the main bullish channel's support at $1,225.00 before any new attempt to rise. The expected trading range for today is between $1,263.00 support and $1,295.00 resistance.

The material has been provided by InstaForex Company - www.instaforex.com